LFB was engaged by a client looking to complete a refinance on an ultra-luxury single family estate home in the Newport Coast area of Orange County, CA. At the time of financing, the existing loan was approaching maturity and the rate was high single digits. LFB quickly identified a capital source who could navigate the complexity of the luxury market during Covid-19 and also understand the borrowers global hurdles. LFB was able to structure a long term solution for the client which resulted in a 5/1 ARM, interest only loan at 5.5%, on a 30 year amortization with no prepayment penalty.
The recently completed, ultra-luxury home was designed by award winning Homer Oatman Architects as a Northern Italian design mixed with modern luxury interior details. The estate totals nearly 14,000 square feet, has 6 bedrooms and 13 bathrooms, with panoramic ocean views. With two master bedroom retreats, a walk in commercial refrigerator, pool/spa, 7-car subterranean garage, glass theater and an interior elevator, the estate is a complete showstopper.
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